Your Obama Portfolio
Why is Wall Street doing the roller coaster? Why are investors nervous? Could it be investors are nervous about an Obama presidency…?
Initial polling suggests that Senator Obama will be the next president. An Obama presidency is certain to mean a big tax increase, says investment adviser Charles Allmon. He also points to the likelihood that the senator will seek to raise the marginal tax rate to 52% from 39.6% and hike the capital gains tax rate to at least 25% from 15%.
“He’ll cause more damage to the stock market and even make Jimmy Carter look good,” Mr. Allmon says. “Senator Obama is leading a children’s brigade, but the problem is children shouldn’t be leading this country.”
Think about it. How badly would one have to screw up the economy to make Jimmy Carter look good?
